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What is the current tax gap in the UK?| Tax gap at 4.8% for 2022-23

What is the tax gap for 2022-23 The tax gap for the 2022-23 tax year has been published and is estimated to be 4.8% of total theoretical tax liabilities.  

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Is there an annual property tax in the UK? | annual tax on enveloped dwellings

What is ATED?The Annual Tax on Enveloped Dwellings (ATED) is payable by certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more than £500,000. These provisions affect certain companies, partnerships with company members and managers of collective investment schemes described in the legislation as NNPs.

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Can I look at my State Pension online | check your state pension forecast

How can I check my state pension? The enhanced Check Your State Pension forecast service is now available online. The service can be found on GOV.UK at the following webpage   The new digital service is a joint service by HM Revenue and Customs (HMRC) and the Department for Work and Pensions (DWP). It has been enhanced to include a fully end-to-end digital solution.  

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How do I claim Business Asset Disposal Relief on my tax return? | CGT Rollover Relief

Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the payment of any tax on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost of the new asset and any CGT liability is deferred until the new asset is sold or otherwise disposed of.

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Do you pay Capital Gains Tax when you divorce? | Tax when transferring assets during divorce

When a couple is separating or is divorced it is unlikely that they are thinking about the tax implications of their actions. However, apart from the emotional stress, there are also tax issues that can have significant implications.

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What is the deadline for self-assessment tax return 2023/24 | Paying your Tax Due for the 2023/24 Tax Year Early

The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be happy to leave dealing with their 2023-24 self-assessment tax returns until later this year or even until January 2025.  

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What is the P11D & P11D(b) submission deadline 2023/24 | Reporting expenses and benefits to HMRC

At the end of each tax year, as an employer you must provide HMRC with details about any employee or director to whom you have provided: expenses paymentsbenefitsfacilities

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How do I Report a Scam to Companies House? | Companies House Scam Warning Letter

Companies House have released a warning to users saying that they have received multiple reports of people receiving letters claiming to be from Companies House. The letters claim that the user is required to pay for ‘enhanced web filing access’.

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Tax Diary May 2024

Important tax year dates and deadlines are coming in May.

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Academies accounts direction for 2023 to 2024 | What are the key changes

The Academies Accounts Direction 2023 to 2024 has now been published for academy trusts preparing their annual report and financial statements for accounting periods ending on 31 August 2024.

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How does the EMI scheme work? | Enterprise Management Incentives scheme

The use of enterprise management incentives scheme (EMIs) can help small growing companies to attract and retain employees. The enterprise management incentives scheme allows employees to buy shares free of income tax and NICs based on the difference between the amount paid for shares when an option is used and the actual value (provided the shares are purchased for at least the market value they had when the option was granted).  

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What are the off-payroll working rules? | What does off-payroll working rules IR35 apply mean?

The rules for individuals providing services via an intermediary such as a personal service company (PSC) are complex. The rules apply if the worker who provides services to a client through their own intermediary would have been an employee if they were providing their services directly to that client.